An open and transparent culture, zero cases of corruption and processes to ensure responsible agents and suppliers are among the key ethics and governance principles for Odfjell Technology.

A shared responsibility

The main policies include the Code of Business Conduct (COBC), Ethical Principles, Corporate Social Responsibility Principles, Corporate Governance Policy and the Core Values.

Odfjell Technology’s Core Values are “committed, safety conscious, creative, competent, and result oriented”. Odfjell Technology’s Ethical Principles are about putting these values into practice. Everyone in Odfjell Technology has a personal responsibility to work in a way that respects the Ethical Principles and COBC and encourage others to do so too.

Corporate Governance Policy

Governance & transparency

Odfjell Technology is committed to high ethical standards, compliance and integrity. Our Corporate Social Responsibility Principles (CSR Principles) cover the following five aspects:

  • Health and safety
  • Environment and sustainable development
  • Integrity and anti-corruption
  • Diversity and labour standards
  • Respecting human rights and contribution to local communities

The CSR Principles are promoted by communicating, monitoring, impact assessments, assigning responsibility for promoting CSR Principles, and seeking to contribute to organisations that are making remarkable efforts to promote good CSR in the communities in which we operate.

Odfjell Technology’s whistle blowing portal enables personnel to report infringements of the COBC or other ethical/critical concerns.

Human rights

Odfjell Technology shall conduct business in accordance with the spirit and intent of the United Nations Universal Declaration of Human Rights; the International Labour Organisation (ILO) Declaration on Fundamental Principles and Rights at Work, together with other applicable international principles.

Our human rights policies and procedures apply to all directors, employees, suppliers and agents of Odfjell Technology.

In Odfjell Technology we do not discriminate on the basis of gender, religion, race, national or ethnic origin, cultural background, social group, disability, sexual orientation, marital status, age or political opinion.

Anti-corruption

Odfjell Technology does not tolerate and will not get involved in unethical or illegal business. Facilitation payments are strictly forbidden. Odfjell Technology has a clear ambition that all stakeholders can rely on our integrity.

Our policies aim to identify corruption and bribery risks, ensure reporting of concerns and take measures to mitigate risk. The anti-corruption policies included in the COBC apply to all directors, employees and representatives of Odfjell Technology.

Responsible agents and suppliers

Odfjell Technology seeks to avoid the possibility of corrupt practices and ensure that our employees and those acting on our behalf do so with integrity, high ethical standards and comply with the anti-corruption laws of the country of operation.

Business opportunities will occasionally materialise in countries and regions where Odfjell Technology has limited or no experience, and where using agents is common practice. Any agent is classified as a high-risk third party and a detailed integrity due diligence process is carried out.

Due diligence is performed to ensure that potential suppliers are ethically compliant in accordance with the procedure for third party due diligence, before the supplier is included in our approved vendor list. All potential new suppliers are screened on both environmental criteria and social criteria such as systems for keeping personnel safe, reporting on injuries and managing of sick leave.

Tax strategy

The Tax Strategy for the group is subject to review and Board approval and will be published shortly.